Breaking News
Saudi Basic Industries Corp (SABIC), the world’s fourth largest petrochemicals firm, said on Sunday it would establish a new unit to manage its agricultural investments.
Vast wealth and the promise of dramatic change make for cautious optimism concerning Saudi Arabia, the chief executive…
1597 Views | the publication reaches you by | Saudi Arabia TodayUnder the agricultural plans, SABIC will combine its stakes in companies in the sector that manufacture products including urea, compound fertilisers and phosphates.
SABIC has also entered a deal with fellow listed firm Saudi Arabian Fertiliser Company (SAFCO) to integrate its 43 per cent stake into SABIC Agricultural Nutrient Investments following shareholder and regulatory approval.
CEO Yousef Bin Abdullah Al Bunyan said the plans would help the company achieve long-term sustainable growth and improve production under its 2025 strategy.
SABIC reported a 5.4 per cent rise in third quarter net profit last month citing higher average selling prices and increase in sale volumes.
150 take part through Watani Al Emarat via the ‘Your City Needs You’ initiative Over 150 volunteers –…
1273 Views | the publication reaches you by | Saudi Arabia Today
Do you have information you want to reach our readers?
You can subscribe to our Facebook, Twitter and Google pages or use our RSS feed channel to always read the most important news about Saudi Arabia, the Gulf and the world.
The Arab states of the Persian Gulf are the seven Arab states which border the Persian Gulf, namely Bahrain, Iraq, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates (UAE).This excludes the non-Arab state of Iran. All of these nations except Iraq are part of the Gulf Cooperation Council (GCC).
